Minister Şimşek asks citizens for 'patience': 'We will see the first relief in 2025'

Treasury and Finance Minister Mehmet Şimşek attended a breakfast event held by Sabah Newspaper in Ankara.

Announcing that they will increase the intensity of the fight against the informal economy and will put "artificial intelligence" into play, Şimşek warned taxpayers who earn a lot but pay little tax, saying, "The tax office will knock on your door one day." Stating that they believe they can close the year-end inflation at 40 percent, Şimşek said, "We will not sleep comfortably until inflation falls to single digits."

FED DETAIL

Here are Şimşek's statements:

(Fluctuation in US and Asian markets) The turmoil in global markets looks like a temporary panic attack. The epicenter is Japan, but the repercussions are global. What triggered it is the risk of the US failing to achieve a soft landing and entering a recession. However, according to the data, this panic seems to have subsided. But if the data in the US continues to support lower growth, this correction could happen sooner or later. There is a high probability that the Fed will do something.

WILL POSITIVELY AFFECT TURKEY

Countries with a story can generally be relatively less affected even in such negative conditions. The fact that foreign positions are not very high, that we have a story, and the decline in oil and commodity prices will reflect positively. Factors such as the easing of global financial conditions and them being in our favor will limit the reflection of these turmoils on Turkey.

POINTED TO 2025 FOR RELIEF

Market expectations for inflation are around 30 percent for the next 12 months and around 19 percent for 24 months. We hope that as we get closer to our targets, expectations will also converge. We are very determined to reduce inflation. We will resolve the difficulties our nation is currently facing; we will see the first relief in 2025. 2025 will be a year of disinflation, and therefore our nation will see the results, and it will be worth the hardships we have endured. We have always said, 'it will be difficult,' disinflation is not easy, it takes time. We have truly put forward a strong, consistent program.